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Seven Signs You Need a Better Fund Accounting System

GrowthForceBlog

With so much difficulty facing nonprofit leaders, struggling to keep up with the bookkeeping and accounting tasks of the back office doesn't need to be added to the list of struggles.

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Top Pension Funds Saw Largest Fall in Assets in 20 Years

CPA Practice

In 2022, sovereign and public sector pension funds accounted for 152 funds in the top 300, representing 70.9% Sovereign pension funds accounted for $6.2 trillion in assets, while sovereign wealth funds totaled $11.6 Sovereign wealth funds’ assets grew by 13.9% The top 20 funds accounted for 41.5%

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The Federal Data Transparency Act and Your Local Government Agency

LSLCPAs

It is another step in digitizing data coming on top of the Federal Funding Accountability and Transparency Act (FFATA) of 2006, the Data. The Federal Data Transparency Act (FDTA or the Act) was passed by Congress on December 23, 2022, as part of the National Defense Authorization Act.

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Mutual Fund Buy-Sell Tax Pitfalls

RogerRossmeisl

Surprise sales You may already have made taxable “sales” of part of your mutual fund investment without knowing it. One way this can happen is if your mutual fund allows you to write checks against your fund investment.

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The golden rules to avoid a massive tax bill as a sole trader

Reckon

Once you’ve established separate business and personal accounts, it’s wise to then open a second business account – a simple business transaction account with the sole purpose of storing and paying anticipated taxes. Call this your tax fund account. You shall not draw funds from this account except to pay taxes.

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Interesting Niches under a COVID Cloud

BuildYourFirm

Accounting for Public Relations and Online Marketing Agencies. Accounting for Film Production. Accounting for Hedge Funds. Accounting for Cannabis (as more states change legislation). Accounting for Defense Contracting (federal spending on defense filtering down to smaller contractors).

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5 Key Factors to Consider when Selecting and Implementing an ERP system

Cherry Bekaert

“When we hired Cherry Bekaert for our ERP implementation, they were extremely useful because they understood the business of government accounting, governmental operations, and nuances like fund accounting,” stated Yates. They weren’t making blind assumptions about our business.